UK Bitcoin Exchange Coinfloor Opens Registration, Incentivizes Early Adopters

Coinfloor is now accepting registrations from users looking to conduct GBP-to-BTC trading.

AccessTimeIconMar 27, 2014 at 5:18 p.m. UTC
Updated Sep 3, 2021 at 11:11 a.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

UK-based bitcoin trading exchange Coinfloor launched its services on 27th March, meaning users are now able to register to trade pound sterling for bitcoin via the platform.

Coinfloor had originally aimed to start services on 5th November, but experienced delays due to technical problems.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • — Coinfloor (@Coinfloor) March 27, 2014

    Notably, the company has recognized the impact of the delay, and is offering an incentive program to those who submitted verification documents in November.

    Coinfloor indicated these exchange users would each receive a 50% discount on trades made during the company's first 30 days of operation.

    To be eligible, these users must also create an account on Coinfloor within the next five days.

    Service improvements

    In an email to Coinfloor customers, the company indicated that it has done extensive testing since November, upgrading its system to increase the reliability of its platform.

    While it moved to assure early registrants that their data was safe, Coinfloor also indicated that due to this process, this group would need to repeat certain registration steps.

    Read the email:

    "Unfortunately this means that you will need to create a new account and submit verification documents again."

    Verification, Coinfloor noted, could take up to one week.

    About Coinfloor

    Coinfloor indicates that it operates with a 100% cold storage policy. It also claims to provide the same security standards as the Bank of England, a prospect many customers are likely to appreciate given the recent issues reported by myriad bitcoin exchanges, including Bitcurex, Poloniex, and most notably, Mt. Gox.

    Reads the Coinfloor website: "No bitcoin are ever stored on a server, ensuring that if an attacker had complete access to any of our online servers, our client bitcoin would not be compromised."

    — Coinfloor (@Coinfloor) March 5, 2014

    As of now, the exchange plans to stay bitcoin-only, though it has indicated it is monitoring other developments in digital currency.

    For more information on Coinfloor, read our original launch coverage here.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.